Reports
Reports
The global electric insulator market is expected to witness strong growth during the forecast period between 2021 and 2031.
An electric insulator is a product, comprising silicon rubber, fiberglass, and metal end fitting. It is usually lightweight, has high tensile strength and compactness, and is highly durable. These features have led to an increase in product demand in the last few years.
Electric insulators can prevent electric current from flowing in the wrong direction. As a result, they have found their use in coating wires and as dielectrics in capacitors.
Electric insulators have also been used to offer protection against the harmful effects of electricity, which has made them suitable for use in electricity transmission and distribution networks, as well.
Rising demand for refurbishment of dilapidated buildings, particularly in developing economies, and increasing adoption of smart grid technology are the key growth drivers for the overall electric insulator market.
Rapid urbanization in developing economies has led to the development of new buildings, which has helped fuel the demand for electric insulators and propel the overall electric insulator market.
Also, substantial expenditure incurred in modernizing electrical infrastructure is anticipated to help in the growth of the electric insulator market, in the coming years.
Innovations in electric insulator manufacturing are also expected to bolster the global electric insulator market, in the years ahead.
Porcelain electric insulators are expected to contribute the most to the overall electric insulator market, in the years ahead. The high mechanical and stress resistance properties is expected to drive the product demand and help in the growth of the overall electric insulators market, as well.
The transformers application segment is expected to make the largest contribution to the electric insulators market, owing to increasing worries about power thefts and rising focus on real-time monitoring of power networks.
The global electric insulator market is extremely competitive, with the presence of several leading players. It is anticipated that many of these well-known players will hold a large share in the global electric insulator market, in the coming years.
Prominent players in the global electric insulator market could collaborate with the lesser-known players in a bid to expand their market presence and improve their revenue share.
The smaller players in the electric insulator market will also seek investments from governments and private investors, which would help their long-term growth.
Some of the leading players in the global electric insulator market include ABB, Siemens, Hubbell, BHEL, TE Connectivity, LAPP Insulators, NGK Insulators, and Maclean-Fogg.
The global electric insulator market is divided into North America, Asia Pacific, Europe, and rest of the world.
Asia Pacific is expected to be the dominant region in the electric insulator market, in the coming years. Rapid industrialization and urbanization in countries such as India and Japan, leading to increased use of electricity is a key growth driver for the electric insulator market.
Key players in the global electric insulator market could also establish R&D centers in countries such as India which could further help the growth of the electric insulator market, in Asia Pacific.
North America is expected to stand second in the global electric insulator market owing to the presence of several well-established players in countries such as the U.S and Canada.
The presence of R&D centers in countries such as the U.S and Canada is also expected to help grow the overall electric insulator market, in future, in North America.
Europe and the rest of the world are expected to witness moderate growth in the electric insulator market, in the coming years.
N/A
Copyright © Transparency Market Research, Inc. All Rights reserved
Trust Online
Electric Insulators Market
